HomeMy WebLinkAbout138 - 11/16/1993 - APPROPRIATING REVENUE IN DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR PAYMENT OF DEBT SERVICE FOR 1994 ORDINANCE NO. 138, 1993
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING REVENUE IN THE
DOWNTOWN DEVELOPMENT AUTHORITY FUND FOR
PAYMENT OF DEBT SERVICE FOR THE YEAR 1994
WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 95,
1987, authorized the issuance of Tax Increment Refunded Bonds, Series 1987, dated
May 15, 1988, in the aggregate principal amount of THIRTEEN MILLION FIVE HUNDRED
FORTY-FIVE THOUSAND DOLLARS ($13,545,000) ; and
WHEREAS, the Council of the City of Fort Collins, in Ordinance No. 36,
1992, authorized the issuance of DDA Tax Increment and Refunding Bonds Series
1992, in order to invoke an early call provision on the City's 1988 Downtown
Development Authority Tax Increment Revenue Refunding and Improvement Bonds, in
the aggregate principal amount of ELEVEN MILLION THREE HUNDRED EIGHTY THOUSAND
DOLLARS ($11,380,000) ; and
WHEREAS, interest on the bonds is due and payable annually.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
that there is hereby appropriated for expenditure from the Downtown Development
Authority Debt Service Fund the sum of SEVEN HUNDRED THIRTY-ONE THOUSAND SEVEN
HUNDRED NINETY-EIGHT DOLLARS ($731,798) for payment of debt service in 1994 on
the DDA Tax Increment Refunding Bonds, Series 1992.
Introduced, considered favorably on first reading, and ordered published
this 19th day of October, A.D. 1993, and to be presented for fi passage he
16th day of November, A.D. 1993.
ayor
ATTEST:
City Clerk k
Passed and adopted on final reading this 16th d-tray of Nove A.D. 1993.
ayor
ATTEST:
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